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We rented a home from a lady. She was not going to be moving in the house for a couple years (health reasons). When she went to buy the home, they told her they needed the names of the tenants/occupants. Which was myself and my husband. Her realtor told her that he had to be listed on the deed as an occupant because she had stated if something happened to her she would want the house to go to the people living in it.
She was unable to sell her other house and filed bankruptcy. She doesnt want this house but my husband and myself want to buy it. However, they said we cant cause we are on the deed. We didnt fully know we were on the deed..we just thought we were listed as tenants.
find someone who can translate this into English and try asking again
Ok...the short quick version...
husband name is on deed...wasnt suppose to be...was only suppose to be listed as a tenant....house went into forclosure. (Homeowner didnt make payments she was trying to sustain 2 households) ..they agreed to short sale to us...got through to underwriting and they came back with a NO because we are on the deed.
If you're on the deed, you're part owner. What is owed on the house to bring it out of foreclosure?
Honestly, I dont even know. I know they agreed to short sale it for a lot less..we were doing great..right up until the underwriting and they came back with No because my husband is on the deed. Im sure the $$ that is needed to bring it out of forclosure is way more than we have in the bank.
since foreclosure procedures are local, it may help if we knew where this was.
a house cannot be sold while the owner is in bankruptcy.
what you are saying does not make much sense.
if you are on the deed, it means you have ownership, if you own any part of this property, you are not tenants.
That is the problem. We didnt know my husband was on the deed. He was just suppose to be listed as a tenant. We didnt find out we were on the deed until our loan went into underwriting.
She filed bankruptcy on her other house..and was trying to sell this one to us.
Am I wrong in thinking that the bank (who is now foreclosing) would not have allowed the OP's husband to go on the deed in the first place without doing background checks on him or at least having him sign it?
OP you need to get this sorted either way because if it does go into foreclosure your husband's name will be implicated.
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